Intel and AMD shares fall as semiconductor selloff deepens

Intel and AMD shares fell Wednesday as semiconductor stocks extended a losing streak, pressured by concerns over high valuations, rising financing costs, and Chinese competition, despite strong results from chip-equipment maker ASML. Intel dropped about 3.3%, AMD fell 4.64%, and Marvell Technology declined over 6.2%. The iShares Semiconductor ETF (SOXX) declined for a sixth consecutive session, on track for its longest losing streak since May 2025. ASML raised its forecast and reported strong demand for its chipmaking equipment, with orders extending into 2030, but this provided little support to chipmakers whose revenue depends on direct orders from cloud and AI infrastructure providers. Analysts remain divided on the outlook, with some citing weak arguments for staying bearish and pointing to South Korean export data as a positive indicator. Historical data shows SOXX traded higher three months later in 16 of 17 prior instances after similar six-day declines, with a median gain of 11%.